First Trust Managed Municipal ETF Forecast
Stronger technical forecast for First Trust Managed Municipal ETF price after Tuesday trading.
(Updated on Apr 30, 2024)
The First Trust Managed Municipal ETF price fell by -0.0984% on the last day (Tuesday, 30th Apr 2024) from $50.80 to $50.75. During the last trading day the ETF fluctuated 0.237% from a day low at $50.66 to a day high of $50.78. The price has been going up and down for this period, and there has been a -0.24% loss for the last 2 weeks. Volume has increased on the last day by 39 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 135 thousand shares were bought and sold for approximately $6.85 million.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $50.65 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect First Trust Managed Municipal ETF with a 90% probability to be traded between $49.95 and $50.54 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FMB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.128%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Managed Municipal ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $50.81 and $51.14. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Wednesday, July 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, July 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for First Trust Managed Municipal ETF
First Trust Managed Municipal finds support from accumulated volume at $50.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.120 between high and low, or 0.237%. For the last week the ETF has had daily average volatility of 0.200%.
Our recommended stop-loss: $46.78 (-7.82%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (FMB) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect First Trust Managed Municipal ETF to open at $50.73, and during the day (based on 14 day Average True Range), to move between $50.61 and $50.89, which gives a possible trading interval of +/-$0.139 (+/-0.27%) up or down from last closing price. If First Trust Managed Municipal ETF takes out the full calculated possible swing range there will be an estimated 0.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.71 (0.08%) than the resistance at $51.10 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Trust Managed Municipal ETF ETF A Buy?
First Trust Managed Municipal holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.402 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Managed Municipal ETF of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$50.73 ( 0.0394%) | $50.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.85 | 0.197 % | |
R2 | 50.80 | 0.107 % | ||
R1 | 50.78 | 0.0509 % | ||
Current price: | 50.75 | |||
Support | S1 | 50.68 | -0.130 % | |
S2 | 50.66 | -0.186 % | ||
S3 | 50.61 | -0.276 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 51.52 | 1.52 % | |
R2 | 51.36 | 1.20 % | ||
R1 | 51.10 | 0.690 % | ||
Current price | 50.75 | |||
Support | S1 | 50.71 | -0.0788% | |
S2 | 50.69 | -0.128% | ||
S3 | 0 | . |
FMB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 22, 2024 | Apr 23, 2024 | Apr 30, 2024 | $0.135 | 0.266% |
2 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.135 | 0.263% |
3 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.135 | 0.262% |
4 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.135 | 0.262% |
5 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.133 | 0.256% |
FAQ
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